The report represents a marketing plan of a new restaurant food business named BiCE at Jumeirah at Etihad Towers, Abu Dhabi UAE. The restaurant is a new start-up under the umbrella of BiCE restaurant group. The restaurant is renowned for serving authentic Italian delicacies…
Nevertheless, very few domestic businesses operate in retail food sectors as luxurious restaurant like multinational food chains present in this market. Therefore, future growth of this new business has been identified after detailed analysis of business environment, market trend and consumer behavior. The main objective its marketing strategy would be to position the brand as luxurious restaurant with a touch of western culture. To develop a brand the company also needs to offer varieties of dishes considering the domestic culture and food habits and also popular foreign recipes. 2.0 Situation Analysis 2.1 Market Summary Market of BiCE refers to the potential customers who would be interested in consuming high quality Italian food with premium services. The defined market also covers the purchasing power of the target customers and the product and service offered by the company are permitted by the laws and regulation. The company faces demand of its product and services from a niche market only then it can gradually work towards achieving greater market share by following the trends and demands of the market. According to the Economic Report of 2012-2013 of the UAE the Hotels and Restaurants sector held almost 1.7% of the market during 2010 and 1.7% in the following year. The sector was worth 22 Billion AED during 2010 and a slight increase in the value happened in 2011. Moreover the market exhibited a price increase in the eatery and non-alcoholic beverages segment which was 4.45% during 2010 and reached 5.87% during 2011 (Annual Economic Report, 2012). The service sector of UAE illustrated continuous decline throughout 2012, 2013 and appear to decline in 2014. The given diagram represents the same- The growth of the Oil sector has been assumed to slow...
From this discussion it is clear that United Arab Emirates has been enjoying modern, diversified and growing retail food sector over the years. Increasing development of new hypermarkets in last few years is the key driver for rapid growth in retail food sector. 90% of the total consumed food especially food ingredients s outsourced from markets and processed in this market. Therefore the domestic firm has huge opportunities in food market of UAE. Consequently, the people have high disposable income and for this reason they are very much reluctant to pay higher price for food if it is presented in a luxurious way and environment. Nevertheless, very few domestic businesses operate in retail food sectors as luxurious restaurant like multinational food chains present in this market. As the paper highlights market of BiCE refers to the potential customers who would be interested in consuming high quality Italian food with premium services. The defined market also covers the purchasing power of the target customers and the product and service offered by the company are permitted by the laws and regulation. The company faces demand of its product and services from a niche market only then it can gradually work towards achieving greater market share by following the trends and demands of the market. BiCE will offer a complete package of Italian foods which will satisfy the variety seeking group of customers. ...
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